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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...From customer service chatbots to data migration and overhauling research and development in healthcare, Schweizer said BCG is helping companies use AI to cut costs and increase productivity....
...The backlog is four times larger by value than it was during the global financial crisis. Not all these unsold companies will be duds....
...Roe (chief financial officer): We’re not chasing the last dollar. We’re being disciplined, and I think this year is a great testament to that....
...And remember, people loathe switching their digital and financial infrastructure, even if it doesn’t take that long....
...When New York City banned employers in 2020 from asking job candidates about their current salaries, the prohibition quickly spread to financial services concerns headquartered elsewhere....
...The case turns on a legal stipulation that bars the sale of “investment contracts” unless they are registered as securities with federal regulators....
...The board of the Federal Deposit Insurance Corporation on Thursday was scheduled to vote on the proposals, one from Republican member Jonathan McKernan and the other from Rohit Chopra, a Democrat....
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...A trial is ongoing in a separate federal case over the Alphabet-owned company’s market power for internet search....
...For example, during financial stress different players may seek to use this market to lay off risk, disrupting the market’s normal balance....
...Chief financial officer Martin Small said on a call with analysts that he expected headcount to be “broadly flat” in 2024, as it has been over the past two years....
...Eight years later, after his federal trial concluded, he stands convicted of a civil insider trading charge. Panuwat’s company, Medivation, was bought in 2016 by Pfizer for $14bn....
...Regulators are looking into the level of thoroughness of the investigations Morgan Stanley conducted around the source of clients’ wealth and their financial activity....
...UBS shares have dropped 12 per cent since the Swiss Federal Council published its report this month into the failings of Credit Suisse and proposals on how to improve the system....
Shorts stink a bit less at least
...Moderna paid $1,053,767 for security services to Stéphane Bancel, after not disclosing any security payments for him the previous year....
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...Federal Reserve officials have also been pushing back against a slew of rate cuts priced by markets this year....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Computer-driven hedge funds that bet on trends in financial markets are enjoying strong returns as bets on soaring cocoa prices and a sinking Japanese yen have borne fruit....
...“I remain extremely bullish on Jefferies and fully committed to helping us continue to build the best independent, global and full-service investment banking firm.”...
...That comes with a financial cost but more importantly a human and organisational cost....
Sellers will be able to charge different prices to consumers based on the card they use
...The settlement still requires approval from the California federal judge overseeing the case....
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